Cerity Partners LLC Sells 1,574 Shares of HubSpot, Inc. (NYSE:HUBS)

Cerity Partners LLC lessened its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 22.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,409 shares of the software maker's stock after selling 1,574 shares during the period. Cerity Partners LLC's holdings in HubSpot were worth $2,875,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of HubSpot during the second quarter worth $35,000. HM Payson & Co. increased its stake in shares of HubSpot by 36.0% in the third quarter. HM Payson & Co. now owns 68 shares of the software maker's stock valued at $36,000 after buying an additional 18 shares during the period. Crewe Advisors LLC increased its stake in shares of HubSpot by 525.0% in the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker's stock valued at $44,000 after buying an additional 63 shares during the period. J.Safra Asset Management Corp raised its position in shares of HubSpot by 690.9% during the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker's stock worth $51,000 after acquiring an additional 76 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of HubSpot by 41.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker's stock worth $64,000 after acquiring an additional 32 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Stock Performance

HUBS traded down $1.71 during midday trading on Friday, reaching $721.05. 174,747 shares of the company were exchanged, compared to its average volume of 614,753. HubSpot, Inc. has a one year low of $434.84 and a one year high of $754.56. The company's fifty day moving average price is $597.13 and its 200 day moving average price is $555.74. The company has a market cap of $37.22 billion, a price-to-earnings ratio of -2,670.46, a price-to-earnings-growth ratio of 87.65 and a beta of 1.63.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. HubSpot's quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. As a group, sell-side analysts anticipate that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HUBS shares. Piper Sandler downgraded shares of HubSpot from an "overweight" rating to a "neutral" rating and increased their target price for the company from $570.00 to $640.00 in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Raymond James dropped their target price on shares of HubSpot from $725.00 to $675.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. UBS Group lifted their price objective on HubSpot from $550.00 to $650.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on HubSpot from $625.00 to $750.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, HubSpot currently has a consensus rating of "Moderate Buy" and a consensus target price of $672.68.

Insider Activity

In other news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $597,354.24. Following the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at $21,695,632.56. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. This trade represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,391 shares of company stock worth $29,101,488 over the last quarter. Insiders own 4.50% of the company's stock.

HubSpot Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.